Income Tax On Mutual Funds Sip
The ltcg made till january 31 2018 however remains grandfathered i e gains will remains tax.
Income tax on mutual funds sip. Tax on sip in mutual funds. If you are investing in any other open ended equity schemes through sip you may not be able to claim any tax deductions on your investments. 5 smart strategies to optimise your mutual fund returns mutual funds add 4 lakh folios in october. Best elss funds to invest in 2020.
From april 1 ltcg made on transfer of equity mutual funds that have an equity exposure of 65 per cent or more will have to pay a 10 per cent tax on long term capital gains above rs 1 lakh a year. Check whether you are investing through sip in a tax saving mutual fund scheme. Just to reinstate for equity funds gains losses from units sold after 1 year of investment is classified as long term capital gains losses while units sold with in 1 year of investment is short term capital gains losses. If yes you can claim tax deductions under section 80c.